Section 4-231 - Single audit or program-specific audit requirements. Exemption. Records(a)(1) Each nonstate entity that expends a total amount of state financial assistance equal to or in excess of five hundred thousand dollars in any fiscal year of such nonstate entity beginning on or after July 1, 2024, shall have either a single audit or a program-specific audit made for such fiscal year, in accordance with the provisions of subdivision (2) or (3) of this subsection, as applicable, and the requirements of regulations adopted pursuant to section 4-236.(2) If the total amount of state financial assistance expended in any such fiscal year is for a single program, such nonstate entity may elect to have a program-specific audit made in lieu of a single audit, provided no grant agreement or statutory or regulatory provision governing the program of state financial assistance requires a financial statement audit of such nonstate entity.(3) If the total amount of state financial assistance expended in any such fiscal year is for more than one program, such entity shall have a single audit made for such fiscal year.(b) Notwithstanding any provision of the general statutes or any regulation adopted under any provision of the general statutes, each nonstate entity that expends total state financial assistance of less than five hundred thousand dollars in any fiscal year of such nonstate entity beginning on or after July 1, 2024, shall be exempt with respect to such fiscal year from complying with any statutory or regulatory requirements concerning financial or financial and compliance audits that would otherwise apply to such nonstate entity.(c) No provision of this section shall be deemed to exempt a nonstate entity from complying with any statutory or regulatory provision requiring such nonstate entity to (1) maintain records concerning state financial assistance, or (2) provide access to such records to a state agency.( P.A. 91-401 , S. 2 , 20 ; P.A. 92-121 , S. 1 , 3 ; May 25 Sp. Sess. P.A. 94-1 , S. 43 , 130; P.A. 98-143 , S. 18 , 24 ; Sept. Sp. Sess. P.A. 09-7, S. 45.)
Amended by P.A. 24-0132,S. 11 of the Connecticut Acts of the 2024 Regular Session, eff. 7/1/2024.Amended by P.A. 09-0007, S. 45 of the Sept. 2009 Sp. Sess., eff. 10/5/2009.